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Consolidated Statement of Cash Flows

IFRS

Millions of yen 10th fiscal year

2017/2/28

11th fiscal year

2018/2/28

Cash flows from (used in) operating activities

Profit before tax

42,608

48,271

Depreciation and amortization expense

17,284

18,683

Impairment loss

774

2,576

Finance income

△ 1,353

△ 1,090

Finance costs

1,370

1,194

Share of loss (profit) of investments accounted for using equity method

△ 898

1,171

Loss (gain) on sales of non-current assets

△ 1,953

△ 3,103

Loss (gain) on disposal of non-current assets

2,051

1,609

Decrease (increase) in inventories

△ 6,466

△ 354

Decrease (increase) in trade and other receivables

△ 5,634

△ 3,557

Increase (decrease) in trade and other payables

△ 1,778

△ 1,971

Increase (decrease) in retirement benefit assets

△ 1,134

△ 1,850

Decrease (increase) in retirement benefit assets

△ 1,131

△ 3,455

Other, net

△ 1,684

12,474

  Subtotal 42,054 70,597

Interest received

207

131

Dividends received

390

330

Interest paid

△ 1,337

△ 1,108

Proceeds from compensation

7,885

-

Income taxes paid

△ 17,206

△ 14,833

Income taxes refund

1,799

1,961

  Cash flows from (used in) operating activities 33,764 57,079
Cash flows from (used in) investing activities

Purchase of property, plant and equipment

△ 26,885

△ 17,708

Proceeds from sales of property, plant and equipment

10,423

2,089

Purchase of investment property

△ 12,436

△ 8,993

Proceeds from sales of investment property

-

1,810

Purchase of investment securities

△ 2,463

△ 1,946

Proceeds from sales of investment securities

4,462

2,857

Proceeds from sales of shares of subsidiaries resulting in change in scope of consolidation

-

1,839

Other, net

△ 1,052

1,020

  Net cash flows from (used in) investing activities △ 27,952 △ 19,030
Cash flows from (used in) financing activities

Net increase (decrease) in current borrowings

50

950

Net increase (decrease) in commercial papers

3,001

△ 32,799

Proceeds from non-current borrowings

46,000

16,500

Repayments of non-current borrowings

△ 42,005

△ 28,960

Proceeds from issuance of bonds

-

34,838

Redemption of bonds

-

△ 12,000

Purchase of treasury shares

△ 21

△ 15

Dividends paid

△ 7,305

△ 7,822

Dividends paid to non-controlling interests

△ 846

△ 911

Other, net

△ 969

△ 827

  Net cash flows from (used in) financing activities △ 2,097 △ 31,048
Net increase (decrease) in cash and cash equivalents 3,714 7,000
Cash and cash equivalents at beginning of period 28,149 31,867
Effect of exchange rate changes on cash and cash equivalents 3 15
Cash and cash equivalents at end of period 31,867 38,883

2The Company has voluntarily applied the International Financial Reporting Standards (IFRS) from March 2017. Accordingly, figures for the previous period (the 10th fiscal year) have been changed retrospectively.

JGAAP

Millions of yen 6th fiscal year

2013/2/28

7th fiscal year

2014/2/28

8th fiscal year

2015/2/28

9th fiscal year

2016/2/29

10th fiscal year

2017/2/28

Cash flows from (used in) operating activities

Profit before income taxes

25,986

51,342

38,888

34,698

40,550

Depreciation

16,482

17,698

17,963

18,345

17,189

Impairment loss

1,473

3,265

985

5,905

2,657

Amortization of goodwill

174

349

632

499

359

Amortization of negative goodwill

△ 1,163

-

-

-

-

Increase (decrease) in allowance for doubtful accounts

△ 143

△ 501

△ 156

167

176

Increase (decrease) in provision for bonuses

△ 807

△ 347

△ 86

88

△ 214

Increase (decrease) in provision for retirement benefits

△ 866

△ 4,722

-

-

-

Increase (decrease) in net defined benefit liability

-

-

2,399

△ 1,832

△ 1,160

Decrease (increase) in net defined benefit asset

-

-

△ 535

△ 1,367

△ 1,131

Increase (decrease) in provision for sales promotion expenses

12

43

△ 13

△ 13

△ 263

Increase (decrease) in provision for loss on business liquidation

△ 1,026

24

26

930

803

Increase (decrease) in reserve for gift certificates

1,048

902

909

672

579

Increase (decrease) in provision for loss on stores rebuilding

-

1,320

△ 560

1,676

△ 723

Interest and dividend income

△ 828

△ 853

△ 806

△ 734

△744

Interest expenses

1,772

1,741

1,481

1,419

1,181

Share of loss (profit) of entities accounted for using equity method

△ 1,837

△ 419

△ 735

△ 1,886

△ 308

Loss (gain) on sales of non-current assets

△ 472

△ 1,628

△ 64

30

△ 1,997

Loss (gain) on disposal of non-current assets

2,863

3,812

1,894

2,629

1,589

Loss (gain) on sales of investment securities

△ 366

△ 51

△ 2,811

△ 960

△ 1,259

Loss (gain) on valuation of investment securiteies

307

25

36

0

-

Compensation income for damage

△ 569

-

-

-

-

Compensation income

-

△ 4,711

-

-

-

Loss (gain) on step acquisitions

1,667

-

-

-

-

Loss (gain) on sales of shares of subsidiaries and associates

-

△ 18,479

-

△ 131

-

Decrease (increase) in notes and accounts receivable - trade

△ 505

△ 2,989

△ 9,288

7,507

△ 948

Decrease (increase) in inventories

124

△ 952

△ 1,513

2,680

△ 6,293

Increase (decrease) in notes and accounts payable - trade

△ 4,707

2,821

8,519

△ 4,251

△ 2,803

Decrease (increase) in accounts receivable - other

△ 1,592

△ 2,616

△ 4,170

△ 5,092

△ 4,438

Decrease (increase) in long-term prepaid expenses

△ 181

10

416

553

292

Other, net

407

△ 6,664

1,710

△ 4,855

1,318

    Subtotal 37,252 38,420 55,120 56,682 44,409

Interest and dividend income received

668

704

677

616

793

Interest expenses paid

△ 1,851

△ 1,790

△ 1,530

△ 1,446

△ 1,296

Proceeds from compensation

-

7,438

-

-

7,855

Income taxes paid

△ 11,622

△ 16,192

△ 10,405

△ 20,733

△17,323

Compensation for damage received

1,578

-

-

-

-

Income taxes refund

-

9,950

788

1,680

1,799

Payments for cancelation of rental contracts

-

△ 999

-

-

-

Net cash flows from (used in) operating activities 26,025 37,532 44,650 36,799 36,239
Cash flows from (used in) investing activities

Purchase of short-term and long-term investment securities

△ 31,957

△ 1,530

△ 1,056

△ 12,470

△ 2,463

Proceeds from sales of short-term and long-term investment securities

4,006

3,536

6,020

4,113

4,462

Purchase of property, plant and equipment and intangible assets

△ 16,824

△ 49,514

△ 23,606

△ 37,254

△ 41,966

Proceeds from sales of property, plant and equipment and intangible assets

1,845

3,341

133

40

10,423

Purchase of shares of subsidiaries resulting in change in scope of consolidation

△ 34,386

△ 1,947

-

-

-

Proceeds from sales of shares of subsidiaries resulting in change in scope of consolidation

-

27,649

-

-

-

Decrease (increase) in short-term loans receivable

108

10

△ 33

6

△ 248

Payments of long-term loans receivable

△ 8

△ 8

△ 47

△ 43

△ 156

Collection of long-term loans receivable

67

144

51

59

93

Other, net

3,171

9,459

2,266

4,174

△ 499

Net cash flows from (used in) investing activities △ 73,977 △ 8,858 △ 16,272 △ 39,741 △ 30,353
Cash flows from (used in) financing activities

Net increase (decrease) in short-term loans payable

30,143

△ 34,713

△ 4,962

△ 829

△ 119

Net increase (decrease) in commercial papers

10,000

12,193

△ 3,500

2,107

3,001

Proceeds from long-term loans payable

52,350

25,500

6,000

21,200

46,000

Payments of long-term loans payable

△ 51,488

△ 27,274

△ 17,034

△ 13,008

△ 42,005

Proceeds from issuance of bonds

24,000

-

-

15,000

-

Redemption of bonds

△ 500

△ 1,000

-

△ 12,000

-

Purchase of treasury shares

△ 193

△ 114

△ 64

△ 5,031

△ 21

Cash dividends paid

△ 4,746

△ 4,987

△ 6,312

△ 6,814

△ 7,305

Dividends paid to non-controlling interests

△ 413

△ 733

△ 734

△ 789

△ 846

Other, net

△ 876

△ 897

△ 979

△ 876

△ 892

Net cash flows from (used in) financing activities 58,275 △ 32,027 △ 27,587 △ 1,041 △ 2,189

Effect of exchange rate change on cash and cash equivalents

49

53

65

△ 0

2

Net increase (decrease) in cash and cash equivalents 10,372 △ 3,299 856 △ 3,985 3,699

Cash and cash equivalents at beginning of period

24,204

34,576

31,276

32,132

28,147

Cash and cash equivalents at end of period 34,576 31,276 32,132 28,147 31,846

Financial Information